Funding
RAISE Secures €100 Million First Close for Medical Research Fund Targeting €200 Million
By News Desk ·
Key takeaways
- RAISE raised €100 million at the first close of Investir pour la Recherche Médicale, which targets €200 million.
- AXA, Banque des Territoires and Crédit Agricole Assurances co-led the fundraising, with other institutional and corporate investors participating.
- The fund will donate 50% of its first-year management fees and 50% of net gains to four medical research institutions.
RAISE raised €100 million at the first close of Investir pour la Recherche Médicale, a fund targeting €200 million, with AXA, Banque des Territoires and Crédit Agricole Assurances co-leading the fundraising. The future of trading reported the first close on November 8, 2026.
RAISE's Medical Research Fund and Its Co-Leads
RAISE said other institutional and corporate investors also participated in the first close alongside the three co-leads. The fund's strategy targets minority co-investments in buyouts and growth capital across France and Europe.
The fund will donate 50% of management fees from its first year, and four medical research institutions will receive 50% of net gains. AXA and Crédit Agricole Assurances are among the named co-leads. Crédit Agricole Assurances appointed Philippe Toulorge as chief digital and customer marketing officer, MarketScreener reported on September 23, 2026; he has been on the executive committee since January 2022 and previously served as chief information officer within the group's insurance subsidiary.
RAISE's Earlier Capital Increases
According to akta.pro company records, RAISE Invest completed a €120 million capital increase in April 2024, bringing its own funds to €650 million. In March 2026, French savings institution Carac Group acquired a 30% minority stake in RAISE Group, while co-founders and management retained a 70% majority.
The same records list RAISE's assets under management at €2 billion across five investment strategies and more than 80 portfolio company equity investments since 2013. RAISE was founded in 2013 and is headquartered in Paris.
| Date | Event | Figure |
|---|---|---|
| April 2024 | RAISE Invest capital increase | €120 million |
| April 2024 | RAISE Invest own funds after increase | €650 million |
| March 2026 | Carac Group minority stake in RAISE Group | 30% |
| March 2026 | Co-founders and management retained majority | 70% |
| November 2026 | Investir pour la Recherche Médicale first close | €100 million |
| November 2026 | Investir pour la Recherche Médicale target | €200 million |
Fund Target and Research Donations
The fund is targeting €200 million in total, against the €100 million raised at the first close. Four medical research institutions will receive 50% of net gains, and the fund will donate 50% of management fees from its first year.